Civic Intelligence

Insurance Security Fund

EIN 23-7365644 • 501(c)6 • Madison, WI

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Profile

The Insurance Security Fund has one mission, accomplished through one program to maintain public confidence in the promises of insurers by providing a mechanism for protecting insureds from loss in the event of liquidation of insurers and to provide continuation of protection under insurance policies as specified by Wisconsin State Statutes.

2820 Walton Commons Lane APT 135Madison, WI 53718

wilifega.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

6th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Net Margin

89th percentile

35%

Higher net margin than 89% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$234,640

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Asset Growth

73rd percentile

15%

Faster asset growth than 73% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

97th percentile

431%

Faster revenue growth than 97% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$41,060,426

Up $5,284,421 (+15%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$41,060,426

Up $5,284,421 (+15%) from 2023

Operations
Liabilities / Revenue6th percentileNet Margin89th percentile

Revenue

Up

$14,919,723

Up $12,111,591 (+431%) from 2023

Expenses

Up

$9,636,269

Up $5,426,815 (+129%) from 2023

Net Income

Up

$5,283,454

Up $6,684,776 (+477%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth73rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $31,146,274Liabilities 2010: $0Net Assets 2010: $31,146,2742010Assets 2011: $33,407,252Liabilities 2011: $0Net Assets 2011: $33,407,2522011Assets 2020: $31,205,260Liabilities 2020: $0Net Assets 2020: $31,205,2602020Assets 2021: $29,675,597Liabilities 2021: $0Net Assets 2021: $29,675,5972021Assets 2022: $37,173,342Liabilities 2022: $0Net Assets 2022: $37,173,3422022Assets 2023: $35,776,005Liabilities 2023: $0Net Assets 2023: $35,776,0052023Assets 2024: $41,060,426Liabilities 2024: $0Net Assets 2024: $41,060,4262024

Highlighted filing

2024

Assets$41,060,426
Liabilities$0
Net Assets$41,060,426
Open 2024 Filing

Operations Trend

Revenue Growth97th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $5,285,6222010Expenses 2011: $5,937,7482011Revenue 2020: $1,904,522Expenses 2020: $3,435,530Net Income 2020: -$1,531,0082020Revenue 2021: $2,997,173Expenses 2021: $4,542,895Net Income 2021: -$1,545,7222021Revenue 2022: $11,161,713Expenses 2022: $3,674,439Net Income 2022: $7,487,2742022Revenue 2023: $2,808,132Expenses 2023: $4,209,454Net Income 2023: -$1,401,3222023Revenue 2024: $14,919,723Expenses 2024: $9,636,269Net Income 2024: $5,283,4542024

Highlighted filing

2024

Revenue$14,919,723
Expenses$9,636,269
Net Income$5,283,454
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$41,060,426
Liabilities
$0
Net assets
$41,060,426
Revenue
$14,919,723
Expenses
$9,636,269
Net income
$5,283,454
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$41.1$0.00$41.1$14.9$9.64$5.28
2023Detailed filing. Detailed filing data is available for this year.$35.8$0.00$35.8$2.81$4.21$1.40
2022Detailed filing. Detailed filing data is available for this year.$37.2$0.00$37.2$11.2$3.67$7.49
2021Detailed filing. Detailed filing data is available for this year.$29.7$0.00$29.7$3.00$4.54$1.55
2020Detailed filing. Detailed filing data is available for this year.$31.2$0.00$31.2$1.90$3.44$1.53
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.4$0.00$33.4$5.94
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.1$0.00$31.1$5.29
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 29, 2025
Return Version
2024v5.1
Gross Receipts
$14,919,723
Mission and Program Overview

Mission

The Insurance Security Fund has one mission, accomplished through one program to maintain public confidence in the promises of insurers by providing a mechanism for protecting insureds from loss in the event of liquidation of insurers and to provide continuation of protection under insurance policies as specified by Wisconsin State Statutes.

The Insurance Security Fund has one mission, accomplished through one program to maintain public confidence in the promises of insurers by providing a mechanism for protecting insureds from loss in event of liquidation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$35,776,005$41,060,426▲ $5,284,421
Investments Program Related$27,563,107$22,082,854▼ $5,480,253
Savings and Temporary Cash Investments$8,212,898$18,977,572▲ $10,764,674
Total Assets$35,776,005$41,060,426▲ $5,284,421
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$35,776,005$41,060,426▲ $5,284,421
Total Liabilities and Net Assets / Fund Balance$35,776,005$41,060,426▲ $5,284,421

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$993,939--
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Executive DirectorFT$211,680$69,292$280,972
-Associate Director Operations FinanceFT$140,510-$140,510

Board Members and Trustees

NameTitle
-American Family Insurance, Madison WI
-Assistant Attorney General, Madison WI
-Church Mutual Ins, Merrill WI
-Commissioner of Insurance, Madison WI
-Guardian Life Ins Co, Madison WI
-Humana, Green Bay WI
-Network Health Plan, Menasha WI
-New York Life Ins Co, New York NY
-Northwestern Mutual Life Ins, Milwaukee WI
-Quartz, Sauk City WI
-Sentry Insurance, Stevens Point WI
-Sirius Point, New York NY
-Society Insurance, Fond du Lac, WI
-WI State Treasurer, Madison WI
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$13,687,669
Investment Income
$1,232,054
Other Revenue
$0
Change in Net Assets
$5,283,454

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,919,723
Total Revenue per Audited Statements
$14,919,723
Total Revenue per Form 990
$14,919,723
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,295,578
Salaries, Compensation, and Employee Benefits$725,731
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$7,614,960
Other Expenses---$735,567
Current Officers, Directors, Trustees, and Key Employees---$374,150
Information Technology---$247,093
Comp Disqual Persons---$215,476
Pension Plan Contributions---$72,773
Payroll Taxes---$41,155
Occupancy---$39,646
Fees for Services Accounting---$33,820
Other Employee Benefits---$22,177
Fees for Services Legal---$18,736
Insurance---$17,632
Conferences and Meetings---$14,678
Total Functional Expenses$0$0$0$9,636,269

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,636,269
Total Expenses per Audited Statements$9,636,269
Total Expenses per Form 990$9,636,269
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11A

“Key components of the Form 990 were discussed with the Board of Directors. 2024 Form 990 was provided to and discussed with teh Board at its April 10, 2025 meeting.”

Form 990, Part VI, Section B, Line 15 A-B

“The Board of Directors appoints an Administrative Committee that oversees operations and considers reviews and makes compensation recommendations to the Board of Directors for their approval.”

Form 990, Part VI, Section C, Line 19

“The Insurance Security Fund was created by Chapter 646 Wisconsin Statutes, which serves as the governing document, and includes the scope, purpose of the Fund, and provides definitions and operations direction for the Funds management. Financial statements are available for the public as required by the statute and posted to a publicly accessible website. Annual notice of the publication of the financial statements is provided to the member insurers, as defined by the statute.”

Filing and Contact Details

Filer

Filer Name
Insurance Security Fund
EIN
23-7365644
Phone
6082429473
Address
2820 Walton Commons Lane APT 135, Madison, WI 53718
Doing Business As
Wisconsin Insurance Security Fund

Signing Officer

Name
Allan Patek
Title
Executive Director
Phone
6082429473
Signed
2025-04-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Allan Patek
Formed
1969
Legal Domicile
Wi
Voting Board Members
14
Independent Board Members
14
Employees
7

Preparer

Firm
Strohm Ballweg LLP
Address
9701 Brader Way Suite 301, Middleton, WI 53562
Preparer
Valerie Schroeder
Phone
6088210600
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Commissioner of Insurance, Madison WI
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IRS990/NetAssetsOrFundBalancesEOYAmt041060426
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IRS990/OccupancyGrp/TotalAmt039646
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/TotalAmt022177
IRS990/OtherExpensesGrp/Desc0Association Dues
IRS990/OtherExpensesGrp/Desc1Liquidation Estate Expenses
IRS990/OtherExpensesGrp/TotalAmt0188406
IRS990/OtherExpensesGrp/TotalAmt1735567
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt041155
IRS990/PensionPlanContributionsGrp/TotalAmt072773
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Allan Patek
IRS990/PriorPeriodAdjustmentsAmt0967
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IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/BusinessCd2524298
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IRS990/ProgramServiceRevenueGrp/Desc1Premium Income
IRS990/ProgramServiceRevenueGrp/Desc2Assessments
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1378525
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt212611264
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt02765966
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0643479
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0825337
IRS990/PYProgramServiceRevenueAmt02164653
IRS990/PYRevenuesLessExpensesAmt0-1401322
IRS990/PYSalariesCompEmpBnftPaidAmt0618151
IRS990/PYTotalExpensesAmt04209454
IRS990/PYTotalRevenueAmt02808132
IRS990/ReconcilationRevenueExpnssAmt05283454
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt035776005
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt041060426
IRS990/SavingsAndTempCashInvstGrp/BOYAmt08212898
IRS990/SavingsAndTempCashInvstGrp/EOYAmt018977572
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IRS990ScheduleD/ExpensesSubtotalAmt09636269
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt011267573
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt11591793
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt26081797
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt32147752
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4993939
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Certificate of Deposits
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1Municipals
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2Treasuries
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3Agency Notes
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4Bond Fund
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd4C
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
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IRS990ScheduleD/TotalBookValueProgramRltdAmt022082854
IRS990ScheduleD/TotalExpensesPerForm990Amt09636269
IRS990ScheduleD/TotalRevenuePerForm990Amt014919723
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0211680
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount022960
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt0Allan Patek
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt026984
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt019348
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Director
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0280972
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Key components of the Form 990 were discussed with the Board of Directors. 2024 Form 990 was provided to and discussed with teh Board at its April 10, 2025 meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board of Directors appoints an Administrative Committee that oversees operations and considers reviews and makes compensation recommendations to the Board of Directors for their approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Insurance Security Fund was created by Chapter 646 Wisconsin Statutes, which serves as the governing document, and includes the scope, purpose of the Fund, and provides definitions and operations direction for the Funds management. Financial statements are available for the public as required by the statute and posted to a publicly accessible website. Annual notice of the publication of the financial statements is provided to the member insurers, as defined by the statute.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 15 a-b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt035776005
IRS990/TotalAssetsEOYAmt041060426
IRS990/TotalAssetsGrp/BOYAmt035776005
IRS990/TotalAssetsGrp/EOYAmt041060426
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt07
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt035776005
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt041060426
IRS990/TotalProgramServiceRevenueAmt013687669
IRS990/TotalReportableCompFromOrgAmt0375150
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt014919723
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt035776005
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt041060426
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt02820 Walton Commons Ln 135
IRS990/USAddress/CityNm0Madison
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053718
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0wilifega.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Allan Patek
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum06082429473
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Insurance Security Fund
ReturnHeader/Filer/BusinessNameControlTxt0INSU
ReturnHeader/Filer/EIN0237365644
ReturnHeader/Filer/PhoneNum06082429473
ReturnHeader/Filer/USAddress/AddressLine1Txt02820 Walton Commons Lane APT 135
ReturnHeader/Filer/USAddress/CityNm0Madison
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053718
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391969986
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Strohm Ballweg LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09701 Brader Way Suite 301
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Middleton
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd053562
ReturnHeader/PreparerPersonGrp/PhoneNum06088210600
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Valerie Schroeder
ReturnHeader/ReturnTs02025-04-29T11:51:41-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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